Saturday November 25, 2017
Home India PM Narendra M...

PM Narendra Modi announces a series of Financial incentives for Poor people, Farmers, Small businesses, Women and Senior citizens

Modi swept to power in 2014 promising to end graft, and while the currency ban aims to do that, political analysts have called it a risky gamble

0
114
People watch Indian Prime Minister Narendra Modi addressing the nation, on television in Hyderabad, India, Saturday, Dec. 31, 2016. (VOA)

Asserting that his crackdown against corruption will not end, Indian Prime Minister Narendra Modi announced a series of financial incentives for poor people, farmers, small businesses, women and senior citizens.

Modi addressed Indians on New Year’s Eve, 50 days after he banned high denomination currency in a bid to root out illegal money. The measure led to huge paper money shortages among citizens that hurt poor people the hardest and caused widespread disruption in the informal sector.

NewsGram brings to you latest new stories in India.

Defending his move to scrap 86 percent of the country’s currency overnight, he said, “Corruption, black money and counterfeit notes had become so rampant in India’s social fabric that even honest people were brought to their knees.”

Although many in the country initially supported the move, patience has worn thin in recent weeks as the government has not been able to meet the demand for new currency, resulting in snaking lines outside banks since the November 8 announcement.

Those lines are likely to continue into the New Year. Although the prime minister had asked for 50 days to restore normalcy, cash shortages have not eased and limits on the amount people can withdraw from banks remain in place.

Go to NewsGram and check out news related to political current issues.

Modi sought to address some of those concerns, saying efforts would quickly be made to restore normalcy to the banking sector. He said the focus would be on rural and remote areas, which have suffered the most from the cash crunch.

Acknowledging that the ban had led to hardship, the prime minister said people had shown patience, discipline and resolve in helping the government tackle corruption.

Among the promises Modi made were a discount on interest rates for home loans in rural and urban areas for poor and middle class people, doubling credit guarantees for small businesses, steps to help pregnant women and senior citizens and financial support for farmers.

Observers said the incentives are meant to alleviate growing anger among millions of poor people.

Look for latest news from India in NewsGram.

He promised tough action against the corrupt but promised to help law abiding citizens. “The law will take its own course with its full force, but the priority is how to help the honest and protect them.”

Modi also called on all political parties to come together and take steps to ensure transparency in political funding, which many say is one of the major factors that fuels corruption.

Modi swept to power in 2014 promising to end graft, and while the currency ban aims to do that, political analysts have called it a risky gamble.

They say whether the move establishes his credentials as a strong leader who is meeting his promise or whether it loses him goodwill will be tested in crucial elections to be held in Uttar Pradesh province early next year.

Many economists have questioned the benefits of the currency ban and warn that it will hurt the economy while not achieving its objective of ending tax evasion. Modi however asserted that there is no precedent globally to what India has done. (VOA)

Next Story

Prince Charles Arrives in New Delhi for two day Visit to Meet PM Narendra Modi

Prince Charles, the Prince of Wales, accompanied by his wife arrived New Delhi for a two-day visit to India to complete their 10-day four-nation tour

0
39
Prince Charles
Prince Charles visits India with his wife for two days. Wikimedia.

New Delhi, Nov 9: Prince Charles, the Prince of Wales, accompanied by his wife, the Duchess of Cornwall, Camilla Parker-Bowles, arrived New Delhi on Wednesday on a two-day visit to India at the final leg of their 10-day four-nation tour that also took them to Singapore, Malaysia and Brunei.

“Their Royal Highnesses Prince of Wales and the Duchess of Cornwall arrive,” the British High Commission in India tweeted.

Prince Charles is scheduled to meet Prime Minister Narendra Modi on Wednesday evening and discuss a wide range of issues, including that of the Commonwealth Heads of Government Meeting (CHOGM) which will take place in April 2018 in the UK.

Prince Charles
Prince Charles arrives in India with his wife. IANS.

Ahead of the royal couple’s arrival, External Affairs Ministry spokesperson Raveesh Kumar said climate change, Sustainable Development Goals (SDGs), economic cooperation, and other bilateral issues would also come up for discussion.

Bilateral trade between India and Britain stands at $12.19 billion. India is the third largest investor in Britain and the second largest international job creator in that country.

Britain is the third largest inward investor in India, with a cumulative equity investment of $24.37 billion for the period April 2000-June 2017

The Indian diaspora in UK is one of the largest ethnic minority communities in the country, with the 2011 census recording approximately 1.5 million people of Indian origin equating to almost 1.8 percent of the population and contributing 6 per cent of the country’s GDP.

This will be Prince Charles ‘s ninth visit to India. He had earlier visited India in 1975, 1980, 1991, 1992, 2002, 2006, 2010 and 2013. (IANS)

Next Story

Demonetisation Anniversary: BJP acts cheeky, releases new video showing Frustration of ‘Corrupt’ Politicians following Demonetisation

The one-minute video, which is now going viral on social media, has already been re-tweeted more than 2 thousand times since it was released on November 7, on the eve of demonetization move.

0
35
Demonetisation Anniversary
Screen grab of the sarcastic video released by BJP to mark Demonetisation Anniversary. Twitter

New Delhi, November 8, 2017 : On November 8 2016, every Indian citizen sat glued to their TV screens as Narendra Modi was set to make a big announcement. Outcome? The Indian Prime Minster shocked the entire nation with the introduction of Demonetisation, a move that was to change the very foundation of the cash-dependent Indian economy.

The much-debated move by Modi garnered the attention of several well-versed economists from the country and abroad, alike. While some people willingly welcomed the move, there were others who stood in staunch criticism.

As the move completes its first year, the Bharatiya Janata Party (BJP) is set to observe November 8 as ‘anti-black money day’ to celebrate Demonetisation anniversary in the country.

On the eve of the Demonetisation anniversary, the BJP released a cheeky video claiming to depict how ‘corrupt’ politicians have been criticizing the move, as the nation won following demonetisation.

WATCH BJP’S TONGUE-IN-CHEEK VIDEO

In the video, the BJP attempted to take a dig at corrupt politicians, who have been criticizing PM Modi’s Demonetisation move.

In the video, a woman, playing the character of a frustrated, corrupt politician can be seen going on a rant over PM Modi’s note ban initiative, which was aimed to combat black money, corruption, fake currency and terrorism.

The video ends with a voice-over saying demonetisation has not only brought out this frustration of corrupt citizens, but also black-money, claiming that almost 99 per cent cash which was previously lying hidden with people has now entered the banking system.

The one-minute video, which is now going viral on social media, has already been re-tweeted more than 2 thousand times since it was released on November 7, on the eve of demonetization move.

Ahead of the Demonetisation anniversary, the last few days have witnessed several leaders present their opinions on PM Modi’s demonetization move.

Finance Minister Arun Jaitley called PM Modi’s note ban initiative a ‘watershed moment’ while Piyush Goyal, Minister of Railways believes the move has pushed India towards a more transparent economy.

However, the move is being criticized by ex-Prime Minister Manmohan Singh calling it ‘irresponsible’. The opposition maintains that PM Modi’s note ban initiative has caused reckless damage to the country and the Indian economy.

On Demonetisation anniversary, the BJP is set to observe November 8 as ‘anti-black money day’, while opposition leaders are set to observe the day as ‘black day’ in protest against the note ban initiative.

Next Story

Editorial Freedom Should be used Wisely in Public Interest says PM Narendra Modi to Media

Prime Minster Narendra Modi on Monday said that editorial freedom should be used in public interest and urged the newspapers to devote space to increase awareness about climate change

0
16
Editorial Freedom
PM Narendra Modi speaks about Editorial Freedom. Wikimedia

Chennai, Nov 6: Prime Minster Narendra Modi on Monday said that editorial freedom should be used in public interest and urged the newspapers to devote space to increase awareness about climate change.

Speaking at the 75th anniversary celebrations of Tamil newspaper Daily Thanthi at the Madras University Centenary Auditorium, Modi said lot of things happen around the world and the editors decide what is important to be published in their newspapers.

He said: “Editorial freedom should be used wisely and in public interest.”

Pointing out the natural calamities occurring around the world at regular intervals, PM Modi urged newspapers to allocate space to increase awareness about climate change.

Narendra Modi said the freedom to write does not in anyway reduce the importance to be accurate and correct, adding that though media outlets may be owned by the private sector, they serve a public purpose, have much social accountability and their conduct should be above board.

editorial freedom
Media must use editorial freedom with public interest, says PM Modi. Wikimedia.

He said technological advancement enables citizens to compare, discuss and analyse the credibility of news and the media should take extra caution to maintain its credibility.

According to him, reform in media can come from within and through introspection.

Observing most of the media discourse revolves around politics, Modi said the nation is made of over a billion people and the media should focus on the people and their achievements.

Citing the spread of mobile phones, Modi said citizen reporting is important in showcasing individual achievements and also helping in the aftermath of natural disasters.

PM Narendra Modi also released a souvenir.

Governor Banwarilal Purohit, Defence Minister Nirmala Sitharaman, Union Minister of State for Finance and Shipping Pon Radhakrishnan, Chief Minister K. Palaniswami and his deputy O.Pannerselvam also participated in the function.

Paying encomiums to the founder of Daily Thanthi S.P. Adithanar and his son Sivanthi Adithan, Palaniswami said the daily would certainly see centenary celebrations.

Leaders of several political parties, law makers, industrialists, movie actors and diplomats attended the function.

Earlier on his arrival PM Modi was received by Purohit, Palaniswami and others at the airport.

From the airport Modi reached the INS Adyar naval base here in a helicopter.

At INS Adyar, Modi had a meeting with Palaniswami and discussed about the rain and relief situation in Chennai and neighbouring districts. (IANS)